TCS: Change Is Key
Tata Consultancy Services or tcs marked the completion of 50 years in 2018 since its inception in 1968. The company has come to the present after a full year of leadership transition. TCS stood confident in fiscal year 2018 by maintaining its leading position in the domestic market. The market witnessed strong technology adoption in both private and public sectors.
India’s largest software services exporter, TCS delivered a strong performance in India as it gets about 6 per cent of its global revenues from India. According to Rajesh Gopinathan, MD & CEO, TCS, practically every single large national level IT transformation project in India has been executed by TCS.
The Mumbai-headquartered company delivered a reported revenue of Rs 1,23,104 crore for the year 2017-18, with an increase of 4 per cent from Rs 1,17,966 crore in 2016-17.
Keeping with the times, the company is placing big bets in the digital area as it has been growing fairly rapidly in digital technologies. It also manifested intense and eager enthusiasm on expanding digital infrastructure in the country last year. With a revenue run rate of $3 billion in digital, the company is said to become a majority digital in five years from now. Revenue from digital engagements for TCS accounted for 21.2 per cent of its revenue in financial year 2018 and grew 35.3 per cent year-on-year.
TCS doubled down on investing in Internal talent development at scale by empowering individuals to acquire skills that will keep them relevant in an evolving technology landscape. In FY18, over 247,000 employees were trained in digital technologies by the company, resulting in the company gaining over 861,000 digital competencies.
The information technology service and consulting company refocused the organisation on the market opportunity presented by four jargon themes of 2018, namely, intelligence, agility, automation and cloud, and reorganised its teams to align with these themes.
TCS signed several mega deals in 2018, which are industry-defining in nature. “Whether it was the largest Internet of Things (IoT) deal that we signed with Rolls Royce, or the deal with Transamerica to replace their fragmented, legacy core with a modern, cloud-based digital platform – the largest contract signed by TCS till date – these are all examples of progressive organisations embracing digital transformation at their core,” said Gopinathan.
From a services perspective, TCS revamped its services portfolio substantially during the year, in tune with its Business 4.0 thought leadership vision and evolving buying behaviours in the market. This was to further strengthen the engagement with other stakeholders in TCS’s customers’ organisations like CXOs.
TCS also built an Open Banking API Framework to help banks accelerate their digital transformation journey. The Artificial Intelligence offerings developed by the R&I teams in the areas of conversational systems and natural language processing (NLP) have been successfully deployed internally in TCS for employee engagement.
TCS is a well-structured $16.5-billion firm and is said to go through constant evolutionary change in the coming years. “TCS will emerge even stronger than what it is, with a much more diversified and holistic business model as technology itself evolves in business,” Gopinathan said to PTI on his vision of TCS five years from now.
